China says all crypto transaction are illegal

[terrorJR]

Despite of the repeated scenario that China banned crypto currency and announced crypto is illegal, they are one of crypto lovers. In fact more of our Chinese neighbor are using cryptocurrencies and they are investors. Also some of them are so good in development to produce potential crypto. China might shake crypto market but it could not stop cryptocurrencies. The announcement will take effect immediately to crash the market because China is big and more cryptonian are there.

I believe one day market will no longer care about what China has to say about crypto. There will be a moment when the market will no longer believe in the statements of the Chinese government, because the market has often experienced FUD from them. Similar to psychology we meet people who often lie, at first we believe them, in the end we don't care what they say. As long as other countries still legalize crypto as an investment asset, even though there is no China on the list, then even China's FUD will have no effect on the market.

That's right, because when something like this happens over and over again, of course, the results will be increasingly ignored because it turns out that what was originally extraordinary becomes a normal thing because it is like normal.
and this sooner or later it will be like this and when in the future there is news about China related to crypto then the impression will be normal, nothing special.
and I will wait and be happy when something like this happens.
they don't know that when fud and decline occur there is always immediate recovery

[Valak]

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

I think the Chinese government does not have the power to ban crypto, maybe they can prevent local transactions, such as crypto exchanges with central banks. It's just a game of rumors so that the price of crypto drops, and they come back to buy crypto in bulk. So that those who panic with the conditions they convey will experience losses.

[Coin BTC]

Master of plagiat, Yuan rnb crypto.. the reason China is very fundamental, creates some fud, Make the market crash and all in at the lowest price is old trick that is outdated but still very familiar keeps happening over and over again.. We must learning this trick and apply it in crypto trading can make profit...

[masulum]

That's right, because when something like this happens over and over again, of course, the results will be increasingly ignored because it turns out that what was originally extraordinary becomes a normal thing because it is like normal.
and this sooner or later it will be like this and when in the future there is news about China related to crypto then the impression will be normal, nothing special.
and I will wait and be happy when something like this happens.
they don't know that when fud and decline occur there is always immediate recovery

Now China has blocked everything, there is nothing more they can do to make another FUD, this year everything related to crypto has been blocked. We should have calmed down from their FUD troubles, unless they are making senseless cases just to ruin crypto prices. Moreover, trading, mining and transactions, all crypto components have been banned, so the Chinese FUD has been over. IMO

[zaim7413]

Master of plagiat, Yuan rnb crypto.. the reason China is very fundamental, creates some fud, Make the market crash and all in at the lowest price is old trick that is outdated but still very familiar keeps happening over and over again.. We must learning this trick and apply it in crypto trading can make profit...

From which direction will you try to learn the trick? because every strategy from other people will not immediately be fully disclosed to everyone, because they are also afraid that their strategy will be known by others.

[Pamadar]

The announcement will take effect immediately to crash the market because China is big and more cryptonian are there.

True, but as we seen the effect not really huge and we started to recover it. A rich man and real crypto believer probably would leave china to avoid the rules there, like what Miners done before after the government forbid mining activity.

Or give access to another person to their assets who is not in the country. The most important thing is that their funds are safe and they can deal with cryptocurrency from anywhere in the world, and I think they will solve the problem in the near future. I'm sure the state wants to control this industry but does not know yet how.

Rich people will find ways to continue. This implementation from the government is not in their hands,

But the fate of their investment inside crypto always rely with them. If they are a believer, they will seek for the better way to make
sure that the government will not hit them with cases against these rules.

Some may flyaway and relocate and others may paused for a while and store everything inside a safe wallet.

whatever plans they've got, for sure, believers will hold and not abandoned this investment.

[CrossroadBTC]

This is just another FUD from China, if you've been around crypto since past years you should know that most FUD and bans comes from China so I wouldn't let this bother me if I were you guys, aren't illegal transactions occuring around FIAT too? What makes CBDC so illegally free? Absolute FUD

[onecall123]

This is just another FUD from China, if you've been around crypto since past years you should know that most FUD and bans comes from China so I wouldn't let this bother me if I were you guys, aren't illegal transactions occuring around FIAT too? What makes CBDC so illegally free? Absolute FUD

It's quite normal right now. However, China underestimated bitcoin holders this time.

Should China ban bitcoin more often? Let's put this in a better perspective. Prices go up and down wherever bitcoin's management wants them to go. Sadly, it did not work this time. Maybe they should build a time machine and go back to 2010 to ban it and buy the dip. It's possible that China might unban BTC when they have accumulated enough. Indeed, China's FUD did nothing additional.

[Ziskinberg]

This is just another FUD from China, if you've been around crypto since past years you should know that most FUD and bans comes from China so I wouldn't let this bother me if I were you guys, aren't illegal transactions occuring around FIAT too? What makes CBDC so illegally free? Absolute FUD

It's quite normal right now. However, China underestimated bitcoin holders this time.

Should China ban bitcoin more often? Let's put this in a better perspective. Prices go up and down wherever bitcoin's management wants them to go. Sadly, it did not work this time. Maybe they should build a time machine and go back to 2010 to ban it and buy the dip. It's possible that China might unban BTC when they have accumulated enough. Indeed, China's FUD did nothing additional.

Forget about FUD from China, eventually, it will not anymore affect the market as people already know China's stance regarding cryptocurrency, they ban it so they don't want it. China will remain negative on crypto so we have to accept that and move on, besides, there are still a lot of countries that have a positive outlook on crypto and they are will to legalize and regulate the market.

[jerrison]

This is not the first time china is causing a whole lot of heat in the crypto space as it is one of the major reasons why the price of crypto assets go down towards the first month of the last quarter of every year. But i believe its a strategy to always increase their holdings of crypto and the measures are always very stern leaving no doubt of the fact that they are really serious but at the end, its alwyas the saem old story

[Galley]

We have information about cryptocurrency bans by China at regular intervals. But what would it somehow strongly affect the crypto market is completely imperceptible. The market has not collapsed and continues to work as before. Nobody pays much attention to this anymore.

[bhadz]

We have information about cryptocurrency bans by China at regular intervals. But what would it somehow strongly affect the crypto market is completely imperceptible. The market has not collapsed and continues to work as before.

It won't collapse. There has been a lot of FUD that's made by China and even they ban crypto for a millionth time, nothing will change.

Nobody pays much attention to this anymore.

Exactly. We've been hearing and reading that every year and what's next for the next year? another ban wave from them?

[gabbie2010]

Many a time when China makes a pronouncement relating to the ban, clampdown on exchanges the impact on the price of bitcoin is momentarily or shortlived infact it even provide an avenue to buy cryptocurrencies after the news must have died down, ever since  I have been in this forum it was always always one negative news or the other from China, the country had already proved that they are not cryptocurrencies friendly nation at all are always

[Sled]

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

Many Chinese citizen is already using bitcoins or other crypto coins to make profits and make some sort of payment in the form of digital currencies. But I think China bans all type of crypto transactions because the government itself can't profit much from it and because it is decentralized, they cannot oversee what is exactly happening inside and the Chinese governemnt cannot act as a middle man and have that authority just like any other banks.

Sure China is making a lot of fuss this past few years and they have been making moves arbitrarily and make some countries mad about their system but we can't do anything about it because they even don't care about the international law.

[terrorJR]

This is just another FUD from China, if you've been around crypto since past years you should know that most FUD and bans comes from China so I wouldn't let this bother me if I were you guys, aren't illegal transactions occuring around FIAT too? What makes CBDC so illegally free? Absolute FUD

It's quite normal right now. However, China underestimated bitcoin holders this time.

Should China ban bitcoin more often? Let's put this in a better perspective. Prices go up and down wherever bitcoin's management wants them to go. Sadly, it did not work this time. Maybe they should build a time machine and go back to 2010 to ban it and buy the dip. It's possible that China might unban BTC when they have accumulated enough. Indeed, China's FUD did nothing additional.

maybe it's true that a time machine is the best way for them right now even though it's an impossibility
Don't be surprised when you hear that China is legalizing bitcoin again because I don't think this ban will last long and the case will be almost the same as the previous cases.
but on the other hand this will make the FUD made by China seem like it will become normal because the method is always the same from year to year and the longer it goes on, it doesn't have any impact.

[mulia sabee]

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

it looks like the ban applies to all digital tokens, which the Chinese government says are digital currencies are illegal and cannot be used as currency in the market for transactions. Online crypto services for citizens domiciled in China provided by overseas virtual currency exchanges are also considered illegal financial activities. This prohibition also applies to trading crypto derivatives.

[letyouearn]

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

All the news you see is just an information noise. They don't affect the markets directly. Big guys use them to increase their price manipulations and create FUD news when they need to drop the market and FOMO - when they need a pump. This system works like water pump. And ordinary hamsters doesn't affect anything here. They look like small fishes trying to swim where they want in this huge water mechanism.

[gurunanakji777]

Whatever China said it doesn't matter it impacts the market for sometime. In the recent time we heard several news China did this and that but what happened in the end market bounce back with more bang so we should not worried what china is doing we should focus on trading.

[yohananaomi]

Whatever China said it doesn't matter it impacts the market for sometime. In the recent time we heard several news China did this and that but what happened in the end market bounce back with more bang so we should not worried what china is doing we should focus on trading.

what you say is something true and I also see what China is doing not just this once and over and over again, it is certain that there are certain intentions that will be desired to achieve it, so China does everything possible. but I can't seem to force myself to believe it completely. so we know the market is not too volatile and bitcoin can still move to increase. So obviously as you say it is better to focus on trading than hearing bad news.

[cryp24x]

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

I had been hearing this kind of news here in cryptocurrency for several years now, its not a new things to me.
Yes, this China was one of the popular country, but their popularity won't affect the market of cryptocurrency
to down the market. And besides, crypto or bitcoin are both volatile in the market as well. And if they are telling the
truth, why the majority of the nations in the whole world not declaring as illegal things?